OECD Leading Index Rises For Fourth Month

A leading indicator of economic performance in the Organization for Economic Cooperation and Development (OECD) area increased for the fourth straight month in February, latest survey data showed.

The composite leading indicator, which is designed to anticipate turning points in economic activity relative to trend, rose to 100.5 in February from 100.3 in January. In December, the reading was 100.2. On an annual basis, however, the index for February dropped by 0.5 percent.

Among member countries, the indicator for the United Kingdom increased 0.1 percent sequentially, signaling a potential turning point in the economy. The indicator for the U.S., which grew 0.3 percent in each of the latest three months, showed that growth has regained momentum.

The sub-index for Canada signaled that activity has stagnated, while the French leading index showed continued sluggish activity.

The indicator for Germany steadied after declining in the previous months, indicating a potential turning point, while index for Italy showed continued sluggish activity, data showed.